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What is Memo and how to use it
What is Memo and how to use it

Memo is a unique numerical code generated with the XLM and EOS deposit addresses. Don’t forget to specify Memo when transferring XLM or EOS.

Sofia avatar
Written by Sofia
Updated over a week ago

What is Memo?

Memo is a unique numerical code generated together with the XLM and EOS deposit addresses. This is an extra piece of information that helps determine to what account a given transaction should be assigned and credited.

Note: Please include Memo with every XLM or EOS transaction. Otherwise, it might lead to permanent loss of your funds. If you have already made a transfer without or incorrect Memo, please immediately contact our support team at support@coinloan.io.

How to deposit XLM or EOS

Web platform

⠀⠀1. Log in to your CoinLoan account or sign up.

⠀⠀2. Go to Wallet > XLM or EOS > Deposit.

⠀⠀3. You will see all your deposit details (QR code, address, and Memo) to copy and paste them.

XLM deposit — Web platform

Mobile app

⠀⠀1. Open the CoinLoan mobile app on your Android or iOS device.

⠀⠀2. Go to the Wallet module.

⠀⠀3. Choose XLM or EOS and tap the Deposit button.

⠀⠀4. You will see all your deposit details (QR code, address, and Memo) to copy and paste them.

EOS deposit — Mobile app

How to withdraw XLM or EOS

Web platform

⠀⠀1. Log in to your CoinLoan account.

⠀⠀2. Go to Wallet > XLM or EOS > Withdraw.

⠀⠀3. Enter all the required details: amount, recipient’s address, and Memo. The address and Memo are generated in the wallet you send your assets to.

EOS withdrawal — Web platform

Mobile app

⠀⠀1. Open the CoinLoan mobile app on your Android or iOS device.

⠀⠀2. Go to the Wallet module.

⠀⠀3. Choose XLM or EOS and tap the Withdraw button.

⠀⠀4. Enter all the required details: amount, recipient’s address, and Memo. The address and Memo are generated in the wallet you send your assets to.

XLM withdrawal — Mobile app

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